Los Angeles daily herald., 1887-04-21
RISE in WHEAT.
What Our Millers Think
of 1t.
WE WILL STILL HAVE FLOUR
roo Much Wheat in Los Angeles
County for Any San Francisco
Corner to Affect Us.

The Associated Press has been send
ing kilograms throughout the country
to the effect that the recent rise in the
price of wheat has had the effect OF
causing the Touring mills in the
State to shut down. Yesterday a
HERALD reporter visited the leading
millers of this city and ascertained that
there is no immediate danger OF Hour
famine falling afoul of Los Angeles.
This county raises such excellent wheat
and the mills here produce such excel
lent -four that co rnerers of the staple
product will have to confine their ef-
forts to San Francisco and give us
wide berth.
THE LANKERSHIM MILLS.
The reporter first visited the above
mills. or It might be better to say, the
office of the los Angeles Farming and
Milling Company, and was pleasantly
greeted by the manager OF the business,
Mr.. j. b. Lankershim: "People had
been figuring on dry year, and wheat
speculators bought up an Immense
amount Of WHEAT for fn.ure delivery,
and saw their way clear to get rich.
Unfortunately for these weather. proph'
cts, it rained, and good crop OF wheat
is assured. These bulls have too much
at stake to let the price of wheat de.
cline, and they are using every effort IN
their power 10 keep it up until they can
unload, A break is bound to
come before many days, and when
| IL does come somebody Is sure
to get hurt. This is merely a
repetition of the "grain bag corner" OF
last year, and the same men are back
OF it.
| "These mills are now running OF their
| full capacity, 500 barrels per day. and
we have plenty of sock on hand to keep
M this run until the corner is broken,
and we propose to continue running
There are now 200, 600 centals OF wheat
iu Los Angeles county, left over from
the last years crop. and the mills are
well stock ed. The crop this year will
be fully an average one and the acreage
is l25. 900 acres. OF course the crop
will not be so large as last year, as that
of last year was the largest crop OF wheat
ever harvested in Southern California.
| If the crop harvested this year only falls
short one third of what it was last year
we will still have an average crop. AT
any rate you can safely state that there
is enough wheat en- hand to carry us
well into next year, and the crop prom
ises SO well that we have no fears.
"While the price of wheat at present
is to great extent speculative, those
| ell l, trxiv fn have
succeeded in getting held OF lot OF
wheat, and this causes the trouble. VI
course, if we hadn't wheat on hand and
wheat assured we would have to follow
the example of the millers in San Fran.
cisco, who buy from day to day. and
either shut down or raise the price OF
flour. Fortunately, we have our own
wheat, and our county raises so much
wheat that we are not forced to any
thing OF that sort, and we will continue
to run right straight along.
"Barley is on the. same footing as
wheat, and the bulls are trying to keer
| it elevated. The barley crop this yeai
will be good, and prices can't keep up.
| CAPITOL MILLING CO.
, The reporter next visited the Capitol
Milling Company, where he found
everything in full blast and not the
slightest indication of shut down. All
was hustle and activity and there seemed
to be more -four turned out than num-
Der of trucks and a freight train, in pro-
cess OF being loaded, could carry oil.
Mr.. j. Loew was found in his private
office and in response to the inquiry OF
the reporter sail: "This does not look
much like shutting down. The fact is
we are now running at our fullest ca
pacity and will continue to do 50. We
consider the rise in wheat to q
great extent speculative measure
bu. there is strong power behind the
corner if it be true, as stated, that the
Nevada bank is taking hand, and there
is no telling how long the high price Of
wheat will prevail. We have on hand
stock enough to run us at our full capac
ity for five months yet, and considering
the immense amount of wheat still left
in this county / think there is no cause
for alarm. We shall run right along
If we had not stock on hand we would
be compslltd 10 cease operations but we
have the stock. There are from l5O,.
900 to 5000 centals of wheat in this
county now, and the coming crop will
be an average one.
"The mills in this city can and do
make as good flour as any mills in the
west. Onr wheat is excellent; the
mills have the best improved machinery
and all the latest patent processes, and
therefore, it is impossible to beat us on
good -four. There will be no such thing
as the mill Of Los Angeles ceasing oper.
ations, and you can SO state"